Page 51 - CityofSouthlakeFY26AdoptedBudget

Southlake Sustainability Comprehensive Plan

Budget Overview
EFW3: Fund and adopt annual City operating budget, capital
projects and equipment through sound financial policies.

“The Vehicle Replacement Fund should maintain three years of
reserves as identified in replacement schedule.”

The FY 2026 budget includes a transfer from the General Fund of
$2,000,000 towards this goal.

Fund balance. The projected ending fund balance is $11,583,878, a 22.1% increase from the prior year
adopted budget. The change can be attributed to funds accumulating related to delays in supply
chain for previously-planned purchases. The planned fund balance provides adequate reserves for the
program.

Southlake Parks Development Corporation Fund

The Southlake Parks Development Corporation (SPDC) is a voter-approved development corporation
established to develop, operate, and maintain park and recreational facilities. The uses of this half-cent
sales tax are restricted to those allowed by law and approved by the Board of Directors and City Council.

The SPDC supports the implementation of the City’s Southlake Parks, Recreation, and Open Space
Comprehensive Plan. Project priorities are established as a joint effort between the staff, Parks and
Recreation Board, Southlake Parks Development Corporation Board of Directors, and City Council.

Revenue highlights. The SPDC operating fund is projected to receive $12,008,914 in total revenue, with
sales tax budgeted at $11,368,000 of that total, a projected 3.7% increase over the prior year adopted
budget. The remainder includes rental income ($153,824), charges for service ($187,090) and interest
($300,000). Total budgeted revenue represents
a projected 2.9% increase over the prior year
adopted budget.

Expenditure highlights. Total expenditures for DID YOU
the operating fund are $3,571,247. This is a 1.3% KNOW?
decrease from the prior year adopted budget,
primarily reflecting a budgeted decrease in capital
costs related to the removal of one time costs
for camera replacement program budgeted in Since its inception in 1994, the SPDC
the prior year. The Southlake Parks Development Fund has collected about $160 million
Corporation Board of Directors approved the for park projects such as North Park,
operating budget at the August 5, 2025, meeting. the Bicentennial Park improvements
and the acquisition and development
This budget includes $1,891,321 for operations,
$1,020,500 for capital expenses and $659,426 for of Bob Jones Park.
personnel. SPDC park maintenance expenditures
FY 2026 City of Southlake | Budget Book 51